Posted on: 19 September 2018 by Chloe Greenbank
Modern Aviation, a fledgling company that is building a national network of premium FBO properties in the US, has acquired its second FBO location in less than 12 months at Centennial Airport in Denver (APA).
Having launched in February of this year with the purchase of Air Wilmington – the lone service provider at North Carolina’s Wilmington International Airport – Modern Aviation is purchasing the assets of Jet Holdings, LLC at the Denver facility, which will be rebranded Modern Aviation after the acquisition closes. The transaction is expected to close by the end of the year, pending regulatory approval.
Backed by private equity fund, Tiger Infrastructure Partners, Modern Aviation’s focus is on actively pursuing FBO acquisitions and development opportunities in North America and the Caribbean.
“XJet is known for its high-quality facilities, outstanding customer service and commitment to safety, which is a perfect fit for the Modern Aviation platform,” said Modern Aviation CEO, Mark Carmen.
Located just 15 miles southeast of Denver, Centennial Airport is one of Colorado’s principal business aviation airports and a top 15 general aviation airport in the US. With more than 50,000 square feet of hangar space, the facility can accommodate business jets up to a Gulfstream G650, Bombardier Global, Embraer Legacy 600, or Dassault Falcon 7x/8x. The terminal has office space available to rent, a conference room, crew lounge, private bathrooms and sleep rooms, so is a convenient choice for business and general aviation passengers.
Remarking on how Denver offers a highly attractive, growing general aviation market, Carmen added: “We plan to invest in additional infrastructure to create the premier FBO location in the Rocky Mountain region. We intend to immediately expand the ramp to accommodate more traffic and have plans to build out additional hangars on the existing leasehold to service growing demand in the region. Additionally, we look forward to providing industry best practices that benefit all stakeholders at Denver Centennial Airport.”
Meanwhile XJET CEO and founder, Josh Stewart commented: “XJet has built outstanding facilities at APA, and over the last 10 years has maintained an incredible track record of delivering exceptional customer service by a team who love what they do.” He added: “Modern Aviation is well positioned to build on that success and further develop the leasehold to reach its full potential. I’m confident that Modern Aviation will provide a great home for the team, and our loyal customer base.”
Stewart also revealed that the acquisition will enable XJet to focus on its European hub at London Stansted and expanding its Seven Star Service brand in the MENA region.